| George was a highly specialized Internet Marketing | | | | hire "real" employees. |
| Computer Geek. | | | | George contacted me through the Taxes Will Travel |
| Every small to large size company who understood | | | | web site. He explained what his problem was. I asked |
| the importance of e-commerce was looking for | | | | who his clients were and how much would he be billing |
| someone with his skills. However, when their HR | | | | his clients eachweek? He was hesitant because he |
| Department called the Temporary Staffing Agency | | | | was new in business and had no credit references, |
| that he worked for the Employers would request a | | | | except his student loan. I explained that his credit was |
| Computer Programming person with "All" the | | | | not an issue, that the Financing |
| necessary experience in Computer Programming | | | | Company would be more interested in who his client's |
| Languages. | | | | were. (His client list read like a Whose Who in the |
| The staffing agency lived by the motto that the | | | | Corporate World) When I explained there would be |
| customer is always right and surely these companies | | | | "no problem" I could tell he did not believe me. He was |
| knew what kind of temporary contract worker they | | | | polite and ask how anyone could get a Line of Credit |
| needed! | | | | for $100,000 without a credit check or Financial |
| Wrong. It took them a couple months to realize that a | | | | statements. I explain to him that his "Customer's" credit |
| Computer Programmer and an Internet Marketing | | | | was the important factor and as long as he had an |
| person were two different animals. They did not | | | | Invoice, I could find a Lender that would wire the |
| understand that the Search Engine 'Gods' deal in | | | | monies into his account within 48 hours. He said "OK", |
| "formulas" They didn't quite understand that no matter | | | | but I could tell he was not sure about me or what I had |
| how many computer programming languages you | | | | said to him. |
| could write that did not mean you understood how to | | | | I told him that I would have one of the Vice-president's |
| increase the number of web site visitors to 25,000 in | | | | of one of the major companies that provide Invoice, |
| one week and to 50,000 the next week. | | | | Lines of Credit to Staffing Agencies contract him later |
| George knew he had to do something, he had learned | | | | that afternoon. |
| that the way to riches was to find a need and fill it. | | | | As I hung up the phone, I was hoping my contract |
| And there clearly was a need for a Staffing Agency | | | | would be available to talk to George as soon as |
| who could provide skilled and professional Internet | | | | possible. George needed to hear someone from the |
| Marketing persons to the Corporate Worldat a | | | | "top" say that there should be 'no problem.' I knew I |
| reasonable hourly rate. | | | | had to move fast. As usual Mr. X was available to talk |
| George did his homework; there was room at the top | | | | to my client that afternoon. George was instructed to |
| of the Temporary Staffing Industry for him. Yes, a lot | | | | fax information to the company that I had selected for |
| of the larger companies were hiring PR firms to do | | | | him based upon his needs, and was able to Factor |
| their Internet Marketing, but the PR Firms needed to | | | | over $70,000 in Invoices that same week. |
| hire a new type of marketing person. These new type | | | | The Financial company wired the monies into his |
| of marketing persons had to be computer gurus. It did | | | | account and he was only a day late with his payroll -- |
| not much matter that they had never written a press | | | | Of course we blamed it on the mail! |
| release a day in their life, it only mattered that they | | | | George's need to hire Employee's to handle the |
| understood Google ranking algorithm and Froogle's | | | | increasing number of contracts that his small staffing |
| (Google's cousin) way of life. | | | | agency was getting was the reason for his need to |
| George had every thing in place; he had collected | | | | do what we call "Factoring" or Accounts Receivable |
| dozens of his computer geek friends who wanted to | | | | Financing, or Invoice, Line of Credit. |
| work independent contract jobs once or twice a | | | | The Pilgrim's journeys to America were financed by |
| week. He trained them in the ways of the search | | | | advances from a Factor who provided the funds to |
| engine spiders, SEO, link popularity and other | | | | pay for the journey. The Pilgrims repaid the money |
| necessary task. There was just one problem, and | | | | with earnings from America. Factoring to this day is an |
| that's how I meet George. | | | | extremely common business practice in Europe |
| George's small staffing business begin to grow faster | | | | whereas many American business men have never |
| then his Accounts Receivables. | | | | heard of it. |
| George did not have the cash flow to pay his contract | | | | Factoring is the selling of your accounts receivable for |
| workers until the corporations paid him. Even after he | | | | cash versus waiting 30-60 or 90 days to be paid by |
| invoiced his corporate client's it would take 30 or more | | | | your customer. When you provide a Factoring |
| days to receive a check. Since there were about 20 | | | | company with copies of your invoices, the Factoring |
| close friends working with George, there had been no | | | | Company uses your invoices to make a loan to your |
| real problem. But now, there were dozens more clients' | | | | company. It is a simple process and can be automated |
| who needed his services and he had no choice but to | | | | after the first transaction. |